Is your Company Using The Right Marketing Strategies?

Every business has a common goal that can easily be summed up with the “P” word – profit.

Big or small, companies will explore different marketing strategies at some point or another to help reach target markets, create brand awareness and ultimately gain a competitive advantage that will help generate a steady incline in sales. Drawing up a  marking plan can take a sufficient amount of time and strategic thought, especially when you consider a long-term initiative and so this is the reason why it’s so important to start by utilizing some basic yet critical marketing methods such as Market Research (i.e. surveys with both quantitative & qualitative measures), a SWOT Analysis and even Porter’s 5 Forces.  Across the board, the target is to grow and most importantly, make sales but you need to know what you’re dealing with before you can plan on the how.  After this point we move onto the fun stuff – the world of what seem to be endless marketing platforms.

The list of marketing strategies goes on and on, it’s not as simple as it once was when consumers depended on word-of-mouth or their  local newspaper to get the message.  Technology, and by that we primarily mean the internet, has revolutionized the way we interact with brands and even see ourselves in relation to them. Marketing is part business, part science.  Sometimes it’s more about how consumers perceive your brand and feel about it than how much they actually need it.

What we Like to Call Living, Breathing Marketing Strategies

Marketers should be working hard at trying to convince consumers on what they want and how they should get it right? Wrong!  Consumers know what they want, you just need to present  it to them at the right place and the right time.

In a sea of marketing strategies, we’ve reeled out a hefty one for you – experiential marketing. It’s become increasingly difficult to break through the clutter and effectively get your message across, not to mention getting your product or service in the hand of consumers. Hand in hand with word-of-mouth marketing or otherwise known as Evangelism Marketing.  Let people experience your brand in a positive light, build a loyal customer base and let them do the work for you.  How does this come together? Here are 3 key reasons why you should seriously consider investing your next dollar in this multi-sensory strategy to get even more than you bargained for.

1. Feel the Brand:  What we feel through an experience tends to stick with us longer than what we simply see or hear. Statistically, people will remember 13% of what they hear in less than 32 seconds, 28% of what they see in under 20 seconds but an astounding 66% of what they see AND feel combined!  The brain processes auditory, visual and tactile information different so the more you can incorporate, the better!  Experiential marketing is all about this – bringing forward lively brand personas that will stick with people long after they’ve left.
2. Capture Mind, Body & Data: Not only do you want consumers to see your brand, you want them to experience it first hand and know what they thought of it.  Experiential marketing provides the perfect opportunity to achieve this as your brand will be prevalent in consumers mind and they will have a physical interaction with it whether this is through a free sample offering, engagement with brand ambassadors or just merely being present.  The gem in all of this is the opportunity to collect data which is most commonly and effectively facilitated through the use of iPads. The consumer marketplace is not a static one, things are constantly changing and if you can be on top of what your consumers thinks and feel, you’re ahead of the game. Market research is most important in both preliminary and follow-up phases of the marketing life cycle which translates into continued improvement.
3. A “Metamorphosing” method: A video ad can be use on television or online, a radio ad can only be aired on the radio and print ads are bound to be on paper or boards.  What about experiential? The beauty of it is that it can be use to leverage and strengthen a campaign, it can stand on its own or it can do both.  Since you’re actually creating an experience, it is very much so possible to take photos which can be used in print or online and to take video footage that can be aired or go viral gaining even more exposure  and that’s what we call efficiency!

Some of the most epic marketing fails have earned companies nothing but bad PR, a warped brand image and a hefty bill to undo, in some cases, what cannot be undone. The limitations of more classic forms such as print and radio make it a tricky task for marketers, you really need to nail it to convey the message you intended while experiential is hands on allowing a little show-and-tell to ensure your message is tailored to each individual. Remember, everything is on the line and if you firmly stand behind your brand then you you would proudly step up to the plate and give a first hand experience customers won’t forget!

The final quarter of 2014 is upon us and before we know it, the biggest season of the year will be too (the holidays!!) This is a tremendous opportunity for exposur.! Tigris can help your brand make the most of  your marketing strategies – call us today at 647-286-9392 !